Bitcoin Price Possibly Heading For $1,500 Says Bloomberg Analyst

[fitload]

Mike McGlone, a Bloomberg intelligence analyst believes Bitcoin could fall to as low as $1,500, representing a fall of roughly 70% from current levels and a $26 billion market cap for the largest digital currency.

According to a chart indicator called the Average Directional Index (ADI for short), BTC is at a peak not seen since July. If the indicator is high, it shows high levels of downward trend vigor.

McGlone said that he sees a possible price target of $1,500 for bitcoin. Hitting that price would mean another 60 percent fall from its current rate, which is already down 81 percent from last year’s all-time high.

McGlone credits his theory to a rush of exits from investors, the recent Bitcoin Cash split as well as selling...

Read More: https://news.bitzamp.com/bitcoin-price-possibly-heading-for-1500-says-bloomberg-analyst/

[acha12]

No matter how good the research about the down price of bitcoin it will not be 100% correct, I am sure all media that share bad news will get benefit from that down price, even the experts you mentioned above also hope bitcoin prices to down, if he buy bitcoin in expensive price then I think he will not make that bad news unless he wants to kill himself.

[mlawson71]

Time will tell, but with the way it's developing I wouldn't be surprised if that does happen eventually. I really hope it won't.

[PRIBO247]

Mike McGlone, a Bloomberg intelligence analyst believes Bitcoin could fall to as low as $1,500, representing a fall of roughly 70% from current levels and a $26 billion market cap for the largest digital currency.

According to a chart indicator called the Average Directional Index (ADI for short), BTC is at a peak not seen since July. If the indicator is high, it shows high levels of downward trend vigor.

McGlone said that he sees a possible price target of $1,500 for bitcoin. Hitting that price would mean another 60 percent fall from its current rate, which is already down 81 percent from last year’s all-time high.

McGlone credits his theory to a rush of exits from investors, the recent Bitcoin Cash split as well as selling...

Read More: https://news.bitzamp.com/bitcoin-price-possibly-heading-for-1500-says-bloomberg-analyst/

I try as much as possible not to listen to all this doom prophets, they aren't helping matters. Although this time, looking at the reality on ground, I cannot help but wonder if they are correct this time.

[Lukasz]

Agreed on the fake news and trust especially  with all those self proclaimed experts that prophesied btc @100k by end of the year overall correction  is going to dominate market for a while yet

[zendicator]

It is possible to dip at $1500. But who knows. No one can predict the price of the coin. Im glad to scoop up some bitcoins if it reached that dip.

[Putih]

It feels difficult to believe if bitcoin falls to the level of 1,500 $, I think in 2019 bitcoin will have a recovery and a prediction of 1,500 $ will not occur.

[damsix]

I even waited for the price of Bitccoin at a price of 500 USD.
I have a Fiat HODL to wait for this moment and be ready to buy more Bitcoin at a price of 500 USD. LOL

[Lukasz]

Well done damsix . This is what most of hodlers do. Do not forget though that btc to grow it need to have strong support in the form of other assets trading vs bitcoin  so please consider projects like innovaminex.com that support growth of the whole network